Summary

Inflation protection and income.
By primarily investing in inflation-linked securities, the fund seeks to provide both inflation protection and income. It will have at least 80% of its assets invested in inflation-linked bonds.

Growth of 10K

High & Low Prices

Growth of 10K

529-A Share data is not available; please click here for a chart based on an investment in Class A shares.

High & Low Prices

For Class 529-A Shares, this chart tracks the high and low prices at NAV for CNLAX through 09/25/2017.

CNLAX

Fund Statistics

9.5 years

Average Life

3.7 years

Average Duration

0.7%

Average Yieldto Maturity

0.9%

Average Coupon

% of net assets as of 6/30/2017 (updated quarterly).

Morningstar Style BoxTM— Fixed-Income

High Quality

Limited Interest-Rate Sensitivity

Morningstar data as of 6/30/17 updated quarterly.

Description

Fund Objective

The fund's investment objective is to provide inflation protection and income consistent with investment in inflation-linked securities.

Distinguishing Characteristics

Offers a diversified focus, which includes inflation-linked bonds issued by the U.S. Treasury and by non-U.S. governments as well as certain floating-rate corporate issues.

Types of Investments

Inflation-linked bonds issued by U.S. government, as well as certain floating-rate corporate issues. The fund may invest up to 20% of its assets in securities of issuers domiciled outside the United States.

Portfolio Restrictions

The fund will invest primarily in debt securities with quality ratings of Aa3 or better or AA- or better at time of purchase (or unrated but determined by the fund's investment adviser to be of equivalent quality). At least 80% of the fund's assets will be invested in inflation-linked bonds issued by governments, their agencies or instrumentalities, and corporations. Further, at least 80% of the fund's assets will be invested in securities guaranteed or sponsored by the U.S. government.

Fund Facts

Fund Inception

12/14/2012

Fund Assets (millions)

As of 8/31/2017 (updated monthly).

$3,355.0

Companies/Issuers

Holdings are as of 11/30/2016 (updated as of most recent fiscal year-end).

About Our Funds

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely.View fund expense ratios and returns.

Returns shown at net asset value (NAV) have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing.CollegeAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries.

The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.While not directly correlated to changes in interest rates, the values of inflation-linked bonds generally fluctuate in response to changes in real interest rates and may experience greater losses than other debt securities with similar durations.

For more information about the risks associated with each fund, go to its detailed fund information page or read the prospectus.

Depending on your state of residence, there may be an in-state plan that offers tax and other benefits not available through CollegeAmerica.Before investing in any state's 529 plan, investors should consult a tax advisor.CollegeAmerica is sponsored by Virginia529℠.

If withdrawals from 529 plans are used for purposes other than higher education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.

There may have been periods when the fund(s) lagged the index(es).Certain market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

Funds are managed, so holdings will change.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

Includes short-term securities, accrued income and other assets less liabilities.

Prior to September 30, 2016, securities in the Real Estate sector were reported under the Financials sector.

Figures include convertible securities; totals may not reconcile due to rounding. Methodology notes: The equity breakdown by revenue reflects the fund’s publicly traded equity holdings and excludes cash (and fixed income securities, if applicable). Underlying revenue data were compiled by MSCI and account for disparities in the way companies report their revenues across geographic segments. MSCI breaks out each company’s reported revenues into country-by-country estimates. MSCI provides revenue data figures based on a proprietary, standardized model. Revenue exposure at the fund and index level was calculated by using FactSet, which takes these company revenue exposures and multiplies by the company’s weighting in the portfolio and index. In this breakdown, Israel has been included in Europe.

The portfolio managers shown are as of the fund's most recent prospectus dated 08/14/2017.

Calculated by American Funds. Due to differing calculation methods, the figures shown here may differ from those calculated by Morningstar.

Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by American Funds.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past results are not guarantee of results in future periods. Morningstar Rating is for Class 529-A only; other classes may have different performance characteristics.

The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.

YTD (year-to-date return): the net change in the value of the fund's shares (in percentage terms) from January 1, 2017, to the current date shown above.

Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch, as an indication of an issuer's creditworthiness. If agency ratings differ, the security will be considered to have received the highest
of those ratings, consistent with the fund's investment policies. Securities in the Unrated category have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with fund investment policies.

Expense ratios are as of the most recent prospectus.

Comparable industry expense information is not available for the fund.

Read more information about Morningstar Style Box methodology.The model for the fixed-income style box is based on the two pillars of fixed-income performance: interest-rate sensitivity and credit quality. The three interest sensitivity groups are limited, moderate and extensive and the three credit quality groups are high, medium and low. These groupings display a portfolio's effective duration and third party credit ratings to provide an overall representation of the fund's risk orientation given the sensitivity to interest rate and credit rating of bonds in the portfolio.

The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the fund's SEC yield and distribution rate may differ.

Beta: Beta relatively measures a fund's sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a fund's return was more volatile than the market. A beta lower than 1 suggests that the fund was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.

Bloomberg Barclays U.S. Treasury Inflation-Protected Securities Index: Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index consists of investment-grade, fixed-rate, publicly placed, dollar-denominated and non-convertible inflation-protected securities issued by the U.S. Treasury that have at least one year remaining to maturity, and have at least $250 million par amount outstanding.

Bond Statistic Average Coupon: The average coupon is the weighted average coupon rate of all the bonds in the fund.

Bond Statistic Average Duration in Years: Expressed in years, average duration is a weighted average of the estimated price sensitivity of the bonds in the fund's portfolio to a given change in interest rates. With respect to individual bonds, for example, a duration of 4 years indicates that the price of a bond will rise/fall by approximately 4% if rates in general fall/rise by 1%. Typically, bonds with a longer duration pay higher interest but are more sensitive to interest rate changes.

Bond Statistic Average Life in Years: Expressed in years, average life is time weighting the expected principal payments, taking into consideration the impact of calls and prepayments. In general, it is a better measure than average maturity for bonds that have the ability to prepay principal before they reach maturity (e.g., mortgages, mortgage-backed securities and asset-backed securities). Data shown is a weighted average of the bond funds held in the fund's portfolio.

Bond Statistic Average Yield to Maturity: A weighted average of all the fund's bond holding's yield to maturities. Yield to maturity is the return a bond earns if held to maturity, based on its price and coupon. Assumes that coupon payments can be reinvested at the yield to maturity.

Capture Ratio Downside: Capture ratios reflect the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture).

Capture Ratio Upside: Capture ratios reflect the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture).

Distribution rate 12-month: The income per share paid by the fund over the past 12 months to an investor from dividends (including any special dividends). The distribution rate is expressed as a percentage of the current price.

Historical Long-Term Capital Gains: When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings. Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term. Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. Long-term capital gain distributions are taxed at a maximum 15% rate. The information above classifies gain from the sale or exchange of a capital asset held for more than one year as a long-term capital gain.

Historical Regular Dividend: The share prices of all of our equity funds decrease when a dividend is paid. The share price of only one of our fixed-income funds, Capital World Bond Fund, also decreases when a dividend is paid. A fund pays a special dividend when the investment income generated by the fund exceeds the income the fund has paid in the form of dividends throughout the year. Special dividends are distributed with the last dividend payment at the end of the calendar year. Prior to January 1, 2003, short-term capital gains distributed to shareholders as income dividends and special dividends paid to shareholders were included in the aggregate income dividend dollar amount.

Historical Short-Term Capital Gains: When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings. Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term. Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. Long-term capital gain distributions are taxed at a maximum 15% rate.

Historical Special Dividend: The share prices of all of our equity funds decrease when a dividend is paid. The share price of only one of our fixed-income funds, Capital World Bond Fund, also decreases when a dividend is paid. A fund pays a special dividend when the investment income generated by the fund exceeds the income the fund has paid in the form of dividends throughout the year. Special dividends are distributed with the last dividend payment at the end of the calendar year. Prior to January 1, 2003, short-term capital gains distributed to shareholders as income dividends and special dividends paid to shareholders were included in the aggregate income dividend dollar amount.

Morningstar rating: In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings (portfolio and other statistics over the past three years).

R-Squared: R-squared is a measure of the correlation between a particular fund's return and that of its benchmark index. A measure of 100 indicates that all of the fund's return can be explained by movements in its benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be. Calculated by Morningstar.

Standard Deviation: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility. Calculated by Morningstar.

529-A Share data is not available

Annual Returns

For Class 529A Shares, this chart tracks the total returns since the fund's inception date (Friday, December 14, 2012) through December 31, 2016. Fund returns and, if available, index returns are for calendar years except for the inception year (2012), which may not be a full calendar year. In cases where the index was launched after the fund inception, the index returns are shown in calender years.

American Funds Inflation Linked Bond Fund (CNLAX)

Index

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely.View fund expense ratios and returns.

Returns shown at net asset value (NAV) have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing.CollegeAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries.

The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.While not directly correlated to changes in interest rates, the values of inflation-linked bonds generally fluctuate in response to changes in real interest rates and may experience greater losses than other debt securities with similar durations.

For more information about the risks associated with each fund, go to its detailed fund information page or read the prospectus.

Depending on your state of residence, there may be an in-state plan that offers tax and other benefits not available through CollegeAmerica.Before investing in any state's 529 plan, investors should consult a tax advisor.CollegeAmerica is sponsored by Virginia529℠.

If withdrawals from 529 plans are used for purposes other than higher education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.

There may have been periods when the fund(s) lagged the index(es).Certain market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

Bloomberg Barclays U.S. Treasury Inflation-Protected Securities Index: Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index consists of investment-grade, fixed-rate, publicly placed, dollar-denominated and non-convertible inflation-protected securities issued by the U.S. Treasury that have at least one year remaining to maturity, and have at least $250 million par amount outstanding.

Volatility & Returns

For Class A Shares, this chart tracks the 10-year standard deviation and 10-year annualized return of the fixed income funds.

Volatility & Return chart is not available for funds less than 10 years old.

Download Data for CNLAX

Some statistics may not be available for all fund (e.g., Top Equity Holdings for Bond funds). Data presented in Excel .xls format.

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